CORRECTED-Renesas jumps 5 pct on report of shareholder bailout approval
(Corrects Hitachi, NEC support to 1 billion yen each, not 10 billion yen)
TOKYO Nov 26 (Reuters) - Japan's embattled Renesas Electronics Corp jumped more than 5 percent on Monday after the Nikkei newspaper said its major shareholders had approved the chipmaker's bailout by a government fund and eight manufacturers.
The deal, to be announced early December, will provide Renesas with a combined 200 billion yen ($2.4 billion), which includes the government fund taking a two-thirds stake in the chipmaker for 180 billion yen, the Nikkei said.
Renesas shares were up 5.9 percent at 306 yen, compared to a 1.1 percent rise for Tokyo's benchmark Nikkei.
The Nikkei report also said Renesas will receive an additional 1 billion yen each in support from Hitachi Ltd and NEC Corp, both major shareholders of the chipmaker.
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.